Create a supply curve. In one or two sentences, explain how quantity supplied and price are related in your example.
Answers
The answer to this question is posted here below in picture attached .
As from the graph increase in the prices of the commodities leads to an increased supply which will eventually lead to a fall in the demand of the commodities.
A decrease in the price of the commodities will eventually lead to decreased supply of goods which in turn increases the demand of the commodities in the market.
ee
A supply function represents the quantity of a certain good or service that producers are willing to supply at different prices level, as shown in the photo attached where a supply curve has been graphed.
The law of supply states that there is a direct relationship between price and quantity supplied (ceteris paribus, hence, if everything else remains equal). Therefore, when the market price increases, so does the amount that producers desire to supply